Matthew Reindel Sells 767 Shares of Empire Company Limited (TSE:EMP.A) Stock

Empire Company Limited (TSE:EMP.A) Senior Officer Matthew Reindel sold 767 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$44.11, for a total transaction of C$33,832.37.

Matthew Reindel also recently made the following trade(s):

• On Thursday, December 19th, Matthew Reindel sold 4,587 shares of Empire stock. The stock was sold at an average price of C$43.81, for a total transaction of C$200,956.47.

Empire Trading Up 3.0 %

Shares of EMP.A opened at C$46.26 on Friday. The company’s fifty day simple moving average is C$43.45 and its 200-day simple moving average is C$41.96. The company has a market cap of C$6.50 billion, a P/E ratio of 16.88, a P/E/G ratio of 16.20 and a beta of 0.48. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. Empire Company Limited has a twelve month low of C$31.45 and a twelve month high of C$46.77.

Empire Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.73%. The ex-dividend date was Wednesday, January 15th. Empire’s payout ratio is currently 29.20%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EMP.A. Desjardins raised their target price on Empire from C$47.00 to C$50.00 in a report on Sunday, December 15th. TD Securities raised their price objective on Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. CIBC boosted their price objective on Empire from C$47.00 to C$55.00 in a research note on Friday, December 13th. Scotiabank upgraded shares of Empire from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$47.00 to C$49.00 in a research note on Friday, March 14th. Finally, BMO Capital Markets upped their price target on shares of Empire from C$44.00 to C$48.00 in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$48.86.

About Empire

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations.